Czech National Bank Governor discusses potential bitcoin reserves plan in Financial Times interview
Czech National Bank Governor Aleš Michl plans to present a proposal to the bank’s board to hold bitcoin as part of its reserves. If approved, bitcoin could account for up to 5% of the bank's €140 billion (CZK 3.5 trillion) reserves.
Mr. Michl made the statement in a Financial Times interview, saying bitcoin’s potential for appreciation makes it a strong diversification option. If the plan proceeds, the CNB would be the first major Western central bank to include cryptocurrencies in its reserves.
On social media, Mr. Michl clarified that the idea is still in a discussion and analysis stage, with no decision imminent. He also noted that the board is carefully considering bitcoin's role in reserves. Speaking to the Financial Times, he also said the bank was likely to reduce interest rates by 0.25% next week.